The Champagne Dame: How diversification helped Kyla Kirkpatrick bounce back after losing 90% in revenue
Kyla Kirkpatrick is the face behind The Champagne Dame, an events, education and tour business which, pre-pandemic, was taking home more than $1 million in yearly revenue.
When COVID-19 hit here in Australia, Melbourne-based Kirkpatrick watched the business lose 90% of its revenue when she was forced to cancel her regularly scheduled tours to France.
Yet thanks to a pre-planned diversification strategy, Kirkpatrick was able to take home $2.4 million from an aligned business, Champagne Emperor.
So why was Kirkpatrick already preparing to diversify her business before any whispers of COVID-19 were about, and what made Champagne Emperor take off so well?